Envision Greenwise Holdings MiniMax Affiliate to Participate As Envision Greenwise Raises HK$1.1 Bln via Share Placement & Convertible Bond Issue for AI Cloud Acquisition

Envision Greenwise Holdings Ltd. plans to raise around HK$1.1 billion in combined gross proceeds through a concurrent vendor top-up share placement and RMB-denominated convertible bond offering, with a subsidiary of MiniMax Group Inc. identified as a prospective placee and subscriber, per a Hong Kong Exchange filing dated Aug.10.

The dual fundraising package comprises a vendor placement of roughly 117.9 million existing shares and a matching top-up subscription of new shares, priced at HK$4.66 each. The placement price represents a 10.56% discount to the stock’s closing price of HK$5.21 on the last trading day. Upon completion, the newly issued top-up shares will account for 3.92% of the company’s enlarged issued share capital.

Parallel to the equity placement, the group’s wholly-owned subsidiary will issue RMB472 million guaranteed convertible bonds settled in US dollars, maturing Aug.18, 2027. The bonds carry an annual coupon rate of 5%, with an initial conversion price set at HK$5.22 per share, marking a slight 0.19% premium to the latest close.

Ninety per cent of the total net proceeds will be deployed to fund the previously announced acquisition of an a cloud computing and data center services provider in China. The remaining 10% will be retained as working capital to support daily operations and business expansion.

A subsidiary of MiniMax Group Inc., a leading developer of AI foundation models, is expected to participate as a prospective placee and subscriber in both transactions. The proposed participation reflects the strategic alignment between MiniMax’s computing-resource requirements and Envision Greenwise’s service capabilities, and is expected to foster future cooperation in computing resources and intelligent computing infrastructure.

Macquarie Capital, Deutsche Bank AG Hong Kong Branch and BOCI Asia Limited are acting in various coordinating, bookrunning, lead-management and placing-agent roles in the transactions.